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Trade Relation Between
China & Bangladesh
Independent University, Bangladesh
Submitted to
Dr. Samiul Parvez Ahmed Faculty of International Financial Management (MBA 546)
School of Business
Independent University, Bangladesh
Submitted by
Name ID
1. Farabi Ahmed 121-121-8 2. Faisal Salehin 143-101-1 3. Mahmudul Hasan Bhuiyan 083-017-1 4. Younus Ahamed 143-100-7
Date of Submission: 3rd August, 2015
Letter of Transmittal
3rd
August, 2015.
Dr. Samiul Parvez Ahmed
International Financial Management (MBA 546)
Faculty Member of School of Business,
Independent University Bangladesh.
Subject: A report on “Trade relation between China & Bangladesh”.
Dear Sir,
With due respect, we would like to inform you that we have completed report on “Trade relation
between China & Bangladesh”. It is immense pleasure for us because we have successfully
completed this report by receiving your continues guideline as a supervisor.
We have endeavored to prepare this report from my level of best to accumulate relevant &
insightful information. If we have included any wrong information in unconsciously so please
forgive us as your students. It is a great experience for us to make this report. We have tried to
make the report comprehensively within the schedule time & limited recourse.
You’re sincerely,
.......................................
Farabi Ahmed
(On behalf of the group)
“Look at the sky. We are not alone. The whole universe is friendly to us and conspires only to give the best to those who dream and work.” –
A.P.J. Abdul Kalam http://www.brainyquote.com/quotes/quotes/a/apjabdu179896.html
Executive Summary
This report contains the information, statistics, and trade relationship between Bangladesh and
China. Both the countries have been allies for more than 35 years, during various peak and off-
peak times of each nations. The bilateral trade between each other is improving, but then we
have a lot more to learn. This report also speaks about the different sectors Bangladesh may learn
and be beneficial from China in the nearer future. China have been the global leader for years,
henceforth, we should learn how to focus, and strengthen our positions in the market. The Sino-
Bangla Relationship has now taken in to new heights, especially after the introduction of long-
waited Padma Bridge construction. Both the countries holds stronger positions in their own fields
of expertise, however China is more about men and machines, whereas, Bangladesh is more
agricultural and cultural focused.
“In a democracy the poor will have more power than the rich, because there are more of them, and will of the majority is supreme” – Aristotle
http://www.brainyquote.com/quotes/quotes/a/aristotle124802.html#MEAQXH7BLo8MaEDJ.99
Table of contents
No Subject Page No
1 Abstract 1
2 People’s Republic of Bangladesh 1
3 Trade Relation (Bangladesh) 1-3
4 Key Indicators for Bangladesh (IFS)
Economic Indicators (Bangladesh)
Economic Trends (Bangladesh)
3-8
9-17
5 The People’s Republic of China 17-18
6 Trade Relation (China) 18-19
7 Environment Factors (China) 19
8 Key Indicators for China, P.R.: Mainland (IFS)
Economic Indicator (China)
Economic Trends (China)
20-27
27-33
9 China – Bangladesh Relationships
“The History
Diplomatic Relations
Military Relations
Economic Relations
Bilateral Relations
Bilateral Investment
Trade & Regional Issues
Bangladesh – China Trading Statistics
China – BD : The opportunities, Economic & Trading
Cooperation
35
35-36
36-37
37-38
38-39
39-40
40-47
47-48
48-52
10 Findings 52
11 Recommendation 52
12 Conclusion 53
13 References 54-55
Abstract
Bangladesh-China relations observed its 35th anniversary in 2010. China is a significant
development partner of, and now the biggest source of import of goods for Bangladesh.
Bangladesh-China defense cooperation is strong. Bangladesh-China relations result in signing of
a plethora of bilateral agreements on various socio-economic issues. This paper attempts to have
a review of 35-year relations between Bangladesh and China. Although Bangladesh maintains
relatively stable political relations with China, Bangladesh suffers from huge trade deficit vis-à-
vis China. Trade and commerce is the major area of cooperation between the two countries.
Other potential areas of cooperation are water resource management, renewable energy,
connectivity, foreign direct investment (FDI), maritime security, and capacity building of
Bangladeshi ports. If the idea of the BCIM (Bangladesh, China, India and Myanmar) truly takes
off, this „quadrilateralism‟ could have enormous positive ramifications for lessening tensions and
also serve as a model for other parts of Asia on how to draw China into a collaborative
relationship.
The People’s Republic of Bangladesh
An independent country since 16th
December 1971, has an area of approximately 148,680 square
kilometer, is 95th
largest nation in the world. Bangladesh, officially titled as the People's
Republic of Bangladesh is a South Asian country bordering India towards west, north and east;
Burma to its southeast and separated from Nepal and Bhutan by the Chicken‟s Neck corridor. To
its south, it faces the Bay of Bengal. It has one of the largest coast-line around the world of
around 580 kilometer, making Cox‟s Bazar its main tourist attractions for the sea-lovers.
Bangladesh is the world's eighth-most populous country, with around 158.5 people. One of the
most densely populated countries, and is by far the most densely populated of any country whose
population exceeds 10 million, holding a masive labor force for the future years ahead. It
governs most of Sundarban, largest mangrove forest globally, with an area of 6,000 square
kilometer.
Trade Relations
In terms of foreign relations Bangladesh pursues a moderate foreign policy, which is articulated
by its principle of “friendship towards all and malice towards none”. It recognizes every country
and has heavy reliance on multilateral diplomacy, especially within the United Nations, except
for Israel. After liberation, it has joined the Commonwealth of Nations, the Non-Aligned
Movement and the Organization of Islamic Conference, has been elected twice to serve on the
UN Security Council- from 1978–1979 and 2000–2001. In the 1980s, Bangladesh pioneered the
formation of the South Asian Association for Regional Cooperation (SAARC). Since the
founding of SAARC in 1985, a Bangladeshi has held the post of Secretary-General on two
occasions. It co-founded the Developing 8 Countries and the Bay of Bengal Initiative. It is a
member of the Asia-Europe Meeting, the Associations of South – East Asian Nations Regional
Forum, the Asia Cooperation Dialogue, Bangladesh–China–India–Myanmar Forum for Regional
Cooperation, the G-77, the Indian Ocean Rim Association and the World Trade Organization.
Bangladesh's foreign policy priorities include promoting multilateral engagement, regional
security and cooperation, combating terrorism and the expansion of trade and investment.
Bangladesh is one of the world's largest contributors of UN peacekeeping forces. As of 2014, it
has taken part in over 54 UN peacekeeping missions in Africa, the Balkans, the Middle East and
the Caribbean, with an estimated 113,000 military personnel. Bangladesh participated in
Operation Desert Storm during the Gulf War in 1991. In Afghanistan, the development agency
BRAC serves 12 million people in areas of primary and secondary education, the empowerment
of women and microfinance.
As fig – 1 shows, it has one of the lowest carbon emissions in South Asia and also around the
world, which is around 0.4 metric ton per capita nations in South Asia around 0.4metric tons per
capita. It has GDP of around $173.8 billion as of 2014 and is increasing; the population is
around 158.5 million, providing the benefit of high labor force in nearer future. Currently, we are
categorized as lower middle income group which is the first for the country holding a massive
114% school-goer in recent years. Figure-2 shows the reduced the poverty line ratio to 31.5%, a
reduction of around 8.5% in just 5 years, from 40.0% of 2005 and 48.9% in 2000, life
expectancy at birth is around 71. The GNI (gross national index) is around US$ 1080 as of 2014,
as per Atlas method. The country has a statistical capacity of about 80.0 %.
(data.worldbank.com)
Figure:1 & 2 (respectively)
Figure: 3
Key Indicators for Bangladesh (IFS)
Bangladesh | Economic Indicators
Bangladesh | Economic Indicators
Markets Last Reference Previous Range Frequency
v
Markets Last Reference Previous Range Frequency
Currency 77.9 Jul/15 77.76 40.1 : 83.16 Daily
Stock Market 4778 Index points Jul/15 4797 282 : 8919 Daily
GDP Last Reference Previous Range Frequency
GDP 174 USD Billion Dec/14 150 4.3 : 174 Yearly
GDP Growth Rate 6.01 percent Dec/13 6.32 4.08 : 6.71 Yearly
GDP Annual Growth Rate 6.12 percent Dec/14 6.01 4.08 : 6.71 Yearly
GDP Constant Prices 7745 BDT Billion Dec/14 7299 2373 : 7745 Yearly
Gross National Product 8261 BDT Billion Dec/14 7886 2483 : 8261 Yearly
GDP per capita 750 USD Dec/14 716 253 : 750 Yearly
Gross Fixed Capital
Formation
3875 BDT Billion Dec/14 3404 594 : 3875 Yearly
GDP per capita PPP 2991 USD Dec/14 2853 1274 : 2991 Yearly
Labour Last Reference Previous Range Frequency
Unemployment Rate 4.3 percent Dec/13 4.5 4.3 : 5.1 Yearly
Employed Persons 54.1 Million Dec/10 56 35.9 : 56 Yearly
Wages 2553 BDT/Month Dec/10 1485 625 : 2553 Yearly
Wages in Manufacturing 243 Index Points Dec/09 206 113 : 243 Yearly
Population 156 Million Dec/14 154 50.1 : 156 Yearly
Prices Last Reference Previous Range Frequency
v
Markets Last Reference Previous Range Frequency
Inflation Rate 6.25 percent Jun/15 6.19 -0.02 : 12.71 Monthly
Consumer Price Index CPI 209 Index Points Jun/15 209 51.99 : 212 Monthly
GDP Deflator 174 percent Dec/14 164 126 : 224 Yearly
Producer Prices 2180 Index Points Jun/06 2082 1233 : 2180 Monthly
Export Prices 175 Index Points Dec/14 163 78.9 : 175 Yearly
Import Prices 203 Index Points Dec/14 190 89.9 : 203 Yearly
Food Inflation 6.32 percent Jun/15 6.23 5.86 : 9.09 Monthly
Inflation Rate Mom -1.3 percent May/15 0.09 -1.3 : 2.08 Monthly
Money Last Reference Previous Range Frequency
Interest Rate 7.25 percent Jun/15 7.25 4.5 : 8.75 Daily
Interbank Rate 5.79 percent Jun/15 6.4 0.74 : 33.54 Daily
Money Supply M0 911 BDT Billion Apr/15 919 34.38 : 996 Monthly
Money Supply M1 1472351 BDT
Million
Apr/15 1468216 6267 :
1511425
Monthly
Money Supply M2 7552 BDT Billion Apr/15 7514 207 : 7552 Monthly
Money Supply M3 8734180 BDT
Million
Apr/15 8671920 732982 :
8734180
Monthly
Foreign Exchange
Reserves
1849 BDT Billion May/15 1878 13.75 : 1878 Monthly
Loans to Private Sector 5222 BDT Billion Apr/15 5172 152 : 5222 Monthly
v
Trade Last Reference Previous Range Frequency
Balance of Trade -69.1 BDT Billion Apr/15 -61.6 -128 : 0 Monthly
Exports 180 BDT Billion Apr/15 208 0.05 : 208 Monthly
Imports 249 BDT Billion Apr/15 269 0.57 : 284 Monthly
Current Account -1065 USD Million Dec/14 -357 -1638 : 1526 Quarterly
Current Account to GDP 0.8 percent Dec/14 0.4 -4.4 : 3.7 Yearly
Terms of Trade 85.98 Index Points Dec/14 85.98 80.01 : 105 Yearly
Remittances 1322 USD Million May/15 1297 1006 : 1491 Monthly
Capital Flows 1.4 BDT Billion Apr/15 3.87 -12.72 : 680 Monthly
Gold Reserves 13.78 Tonnes Mar/15 13.78 3.29 : 13.78 Quarterly
Crude Oil Production 4 BBL/D/1K Mar/15 4 1.1 : 6 Monthly
External Debt 23.3 USD Billion Dec/13 22.1 16.17 : 23.3 Yearly
Foreign Direct Investment 1300 USD Million Dec/13 1191 276 : 1300 Yearly
Government Last Reference Previous Range Frequency
Government Budget 3.97 percent of GDP Dec/14 3.7 -4.5 : 4.56 Yearly
Government Debt to GDP 18 percent Dec/13 18.9 18 : 44.9 Yearly
Government Budget
Value
-53595 BDT Billion Dec/14 -39006 -53595 :-6697 Yearly
Government Spending 702 BDT Billion Dec/14 613 115 : 702 Yearly
Credit Rating 40 : Monthly
Markets Last Reference Previous Range Frequency
Fiscal Expenditure 216222 BDT Billion Dec/14 174013 22013 :
216222
Yearly
Government Revenues 162627 BDT Billion Dec/14 135007 15008 :
162627
Yearly
Business Last Reference Previous Range Frequency
Capacity Utilization 55 percent Jun/03 58 48 : 83.01 Monthly
Competitiveness Index 3.71 Points Dec/15 3.7 3.5 : 3.73 Yearly
Competitiveness Rank 109 Dec/15 110 92 : 118 Yearly
Corruption Index 25 Points Dec/14 27 4 : 27 Yearly
Corruption Rank 145 Dec/14 136 51 : 162 Yearly
Ease of Doing Business 173 Dec/14 130 115 : 173 Yearly
Manufacturing Production 9.44 percent Feb/15 10.69 1.04 : 22.55 Monthly
Consumer Last Reference Previous Range Frequency
Consumer Spending 10344 BDT Billion Dec/14 9347 1742 : 10344 Yearly
Disposable Personal
Income
53026 BDT THO Dec/14 51308 6808 : 53026 Yearly
Personal Savings 3165 BDT Billion Dec/14 2642 177 : 3165 Yearly
Consumer Credit 6792 BDT Billion Apr/15 6762 220 : 6792 Monthly
Private Sector Credit 5412 BDT Billion Apr/15 5364 498 : 5412 Monthly
Housing Last Reference Previous Range Frequency
v
Markets Last Reference Previous Range Frequency
Housing Index 1797 Index Points Dec/08 1737 691 : 1797 Yearly
Taxes Last Reference Previous Range Frequency
Corporate Tax Rate 27.5 percent Dec/14 27.5 27.5 : 40 Yearly
Personal Income Tax Rate 25 percent Dec/14 25 25 : 25 Yearly
Sales Tax Rate 15 percent Dec/14 15 15 : 15 Yearly
Major Export Items in 2012-13 (In million US $) Frozen Food (35.351); Agro Products (9.176);
Tea (0.015); Chemical Products (2.899); Leather (30.394); Raw Jute (33.251); Jute Goods
(55.994); Knitwear (52.59); Woven Garments (86.549); Others (151.899) etc. Major Import Item
in 2011-12 ( In million Us $) Cotton,(all types) cotton yarn/thread and cotton fabrics (19.2);
Nuclear reactors, Boilers, Machinery and mechanical appliances, parts thereof (17.4); Electrical
machinery and equipment and parts thereof, sound recorders and reproducers, television image
and sound recorders and reproducers and parts and accessories of such articles (12.7); Fertilizer
(4.6); Man-made staple fibers (6.5); Knitted or crocheted fabrics (5.2); Man-made filaments;
strip and the like of man - made textile materials (3.4); Iron and steel (1.8); Organic chemicals
(2.0); Articles of iron or steel (1.0); Vehicles other than railway or tramway, rolling stock and
parts and accessories thereof (3.2); Plastics and articles thereof (1.9); Inorganic chemicals,
organic or inorganic compounds of precious metals of rare-earth metals, of radioactive elements
or of isotopes (1.5); Special woven fabrics, tufted textile fabrics, lace, tapestries, trimmings,
embroidery (1.6); Tanning or dyeing extracts tannins and their derivatives, dyes, pigments, and
other coloring matters, paints and varnishes, putty and other mastics, inks (1.2); Articles of
apparel and clothing accessories, knitted or crocheted (1.6); Edible fruit and nuts, peel of citrus
fruit or melons (0.9); Edible vegetables and certain roots and tubers (0.4); Paper and paper board,
articles of paper, pulp of paper or of paper board (0.9); Arms and ammunition; parts and
accessories thereof (0.7); Optical, photographic, cinematographic, measuring, checking,
precision, medical or surgical instruments and apparatus, parts and accessories thereof (0.7);
Coffee, tea, mate and spices (0.4); Rubber and articles thereof (0.6); Aluminum and articles
thereof (0.4); Cereals (0.1); Silk yarn/thread and silk fabrics (0.1); Others (10.0); etc.
v
Economic Trends of Bangladesh
Wednesday, July 29 2015.
Bangladesh Fiscal Expenditure at 216222.00 BDT Billion
Fiscal Expenditure in Bangladesh increased to 216222 BDT Billion in 2014 from 174013 BDT
Billion in 2013.
Wednesday, July 29 2015
Bangladesh Government Revenues at 162627.00 BDT Billion
Government Revenues in Bangladesh increased to 162627 BDT Billion in 2014 from 135007
BDT Billion in 2013.
Wednesday July 29 2015
Bangladesh Government Budget Value at -53595.00 BDT Billion
Bangladesh recorded a government budget deficit of 53595 BDT Billion in 2014.
Tuesday July 28 2015
Ease of Doing Business in Bangladesh at 173.00
Ease of Doing Business in Bangladesh deteriorated to 173 in 2014 from 130 in 2013.
Tuesday July 28 2015
Bangladesh Government Budget at 3.97 percent of GDP
Bangladesh recorded a Government Budget surplus equal to 3.97 percent of the country's Gross
Domestic Product in 2014.
Tuesday July 28 2015
Bangladesh Private Sector Credit at 5412.45 BDT Billion
Private Sector Credit in Bangladesh increased 5412.45 percent in April of 2015 over the previous
month.
Tuesday July 28 2015
Bangladesh | Credit Rating at 40.00
The Euro decreased to 1.10 US dollars in July from 1.11 in June of 2015.
Tuesday July 28 2015
Bangladesh Wages in Manufacturing Index at 243.00 Index Points
Wages in Manufacturing in Bangladesh increased to 243 Index Points in 2009 from 206 Index
Points in 2008.
Tuesday July 28 2015
Bangladesh Remittances at 1321.77 USD Million
Remittances in Bangladesh increased to 1321.77 USD Million in May from 1297.49 USD
Million in April of 2015.
Tuesday July 28 2015
Bangladesh Government Spending To GDP at 17.62 percent
Government spending in Bangladesh was last recorded at 17.6 percent of GDP in 2012 .
Tuesday July 28 2015
Bangladesh Gross Fixed Capital Formation at 3875.14 BDT Billion
Gross Fixed Capital Formation in Bangladesh increased to 3875.14 BDT Billion in 2014 from
3403.70 BDT Billion in 2013.
Tuesday July 28 2015
Bangladesh Employed Persons at 54.10 Million
The number of employed persons in Bangladesh decreased to 54.10 Million in 2010 from 56
Million in 2001.
Tuesday July 28 2015
Bangladesh Corruption Index at 25.00 Points
Bangladesh scored 25 points out of 100 on the 2014 Corruption Perceptions Index reported by
Transparency International.
Tuesday July 28 2015
Bangladesh Gold Reserves at 13.78 Tonnes
Gold Reserves in Bangladesh remained unchanged at 13.78 Tonnes in the first quarter of 2015
from 13.78 Tonnes in the fourth quarter of 2014.
Tuesday July 28 2015
Bangladesh Food Inflation at 6.32 percent
Cost of food in Bangladesh increased 6.32 percent in June of 2015 over the same month in the
previous year.
Tuesday July 28 2015
Bangladesh GDP Annual Growth Rate at 6.12 percent
The Gross Domestic Product (GDP) in Bangladesh expanded 6.12 percent in 2014 from the
previous year.
Tuesday July 28 2015
Bangladesh Gross National Product at 8261.49 BDT Billion
Gross National Product in Bangladesh increased to 8261.49 BDT Billion in 2014 from 7886.02
BDT Billion in 2013.
Tuesday July 28 2015
Bangladesh Population at 155.80 Million
The total population in Bangladesh was last recorded at 155.8 million people in 2014 from 50.1
million in 1960, changing 211 percent during the last 50 years.
Tuesday July 28 2015
Bangladesh Import Prices at 203.19 Index Points
Import Prices in Bangladesh increased to 203.19 Index Points in 2014 from 189.62 Index Points
in 2013.
Tuesday July 28 2015
Bangladesh Money Supply M0 at 910.53 BDT Billion
Money Supply M0 in Bangladesh decreased to 910.53 BDT Billion in April from 918.95 BDT
Billion in March of 2015.
Tuesday July 28 2015
Bangladesh Exports at 180.39 BDT Billion
Exports in Bangladesh decreased to 180.39 BDT Billion in April from 207.91 BDT Billion in
March of 2015.
Tuesday July 28 2015
Bangladesh External Debt at 23.30 USD Billion
External Debt in Bangladesh increased to 23.30 USD Billion in 2013 from 22.10 USD Billion in
2012.
Tuesday July 28 2015
Bangladesh GDP Deflator at 174.42 percent
GDP Deflator in Bangladesh increased to 174.42 percent in 2014 from 164.26 percent in 2013.
Tuesday July 28 2015
Bangladesh Capacity Utilization at 55.00 percent
Capacity Utilization in Bangladesh decreased to 55 percent in June from 58 percent in May of
2003.
Tuesday July 28 2015
Bangladesh Competitiveness Rank at 109.00
Bangladesh is the 109 most competitive nation in the world out of 144 countries ranked in the
2014-2015 edition of the Global Competitiveness Report published by the World Economic
Forum.
Tuesday July 28 2015
Bangladesh Crude Oil Production at 4.00 BBL/D/1K
Crude Oil Production in Bangladesh remained unchanged at 4 BBL/D/1K in March from 4
BBL/D/1K in February of 2015.
Tuesday July 28 2015
Bangladesh Current Account at -1065.00 USD Million
Bangladesh recorded a Current Account deficit of 1065 USD Million in the fourth quarter of
2014.
Tuesday July 28 2015
Bangladesh Government Debt to GDP at 18.00 percent
Bangladesh recorded a Government Debt to GDP of 18 percent of the country's Gross Domestic
Product in 2013.
Tuesday July 28 2015
Bangladesh Manufacturing Production at 9.44 percent
Manufacturing Production in Bangladesh increased 9.44 percent in February of 2015 over the
same month in the previous year.
Tuesday July 28 2015
Bangladesh Housing Index at 1797.00 Index Points
Housing Index in Bangladesh increased to 1797 Index Points in 2008 from 1737 Index Points in
2007.
Tuesday July 28 2015
Bangladesh Interest Rate at 7.25 percent
The benchmark interest rate in Bangladesh was last recorded at 7.25 percent.
Tuesday July 28 2015
Bangladesh Loans to Private Sector at 5221.70 BDT Billion
Loans to Private Sector in Bangladesh increased to 5221.70 BDT Billion in April from 5172.05
BDT Billion in March of 2015.
Tuesday July 28 2015
Bangladesh Producer Prices at 2180.00 Index Points
Producer Prices in Bangladesh increased to 2180 Index Points in June from 2082 Index Points in
May of 2006.
Tuesday July 28 2015
Bangladesh Foreign Direct Investment at 1300.00 USD Million
Foreign Direct Investment in Bangladesh increased to 1300 USD Million in 2013 from 1191
USD Million in 2012.
Tuesday July 28 2015
Bangladesh Current Account to GDP at 0.80 percent
Bangladesh recorded a Current Account surplus of 0.80 percent of the country's Gross Domestic
Product in 2014.
Tuesday July 28 2015
Bangladesh Consumer Price Index (CPI) at 209.17 Index Points
Consumer Price Index CPI in Bangladesh increased to 209.17 Index Points in June from 208.77
Index Points in May of 2015.
Tuesday July 28 2015
Bangladesh Foreign Exchange Reserves at 1849.20 BDT Billion
Foreign Exchange Reserves in Bangladesh decreased to 1849.20 BDT Billion in May from
1877.59 BDT Billion in April of 2015.
Tuesday July 28 2015
Bangladesh Government Spending at 702.09 BDT Billion
Government Spending in Bangladesh increased to 702.09 BDT Billion in 2014 from 613.39
BDT Billion in 2013.
Tuesday July 28 2015
Bangladesh Personal Income Tax Rate at 25.00 percent
The Personal Income Tax Rate in Bangladesh stands at 25 percent.
Tuesday July 28 2015
Bangladesh Monthly Income at 2553.00 BDT/Month
Wages in Bangladesh increased to 2553 BDT/Month in 2010 from 1485 BDT/Month in 2005.
Tuesday July 28 2015
Bangladesh Money Supply M1 at 1472351.00 BDT Million
Money Supply M1 in Bangladesh increased to 1472351 BDT Million in April from 1468216
BDT Million in March of 2015.
Tuesday July 28 2015
Bangladesh Money Supply M2 at 7551.92 BDT Billion
Money Supply M2 in Bangladesh increased to 7551.92 BDT Billion in April from 7513.87 BDT
Billion in March of 2015.
Tuesday July 28 2015
Bangladesh Money Supply M3 at 8734180.00 BDT Million
Money Supply M3 in Bangladesh increased to 8734180 BDT Million in April from 8671920
BDT Million in March of 2015.
Tuesday July 28 2015
Bangladesh Personal Savings at 3164.90 BDT Billion
Personal Savings in Bangladesh increased to 3164.90 BDT Billion in 2014 from 2642 BDT
Billion in 2013.
Tuesday July 28 2015
Bangladesh GDP per capita at 750.42 USD
The Gross Domestic Product per capita in Bangladesh was last recorded at 750.42 US dollars in
2014. The GDP per Capita in Bangladesh is equivalent to 6 percent of the world's average.
Tuesday July 28 2015
Bangladesh Consumer Spending at 10344.30 BDT Billion
Consumer Spending in Bangladesh increased to 10344.30 BDT Billion in 2014 from 9347.27
BDT Billion in 2013.
Tuesday July 28 2015
Bangladesh Consumer Credit at 6791.69 BDT Billion
Consumer Credit in Bangladesh increased to 6791.69 BDT Billion in April from 6762.35 BDT
Billion in March of 2015.
Tuesday July 28 2015
Bangladesh Competitiveness Index at 3.71 Points
Bangladesh scored 3.71 points out of 7 on the 2014-2015 Global Competitiveness Report
published by the World Economic Forum.
Tuesday July 28 2015
Bangladesh Disposable Personal Income at 53026.23 BDT THO
Disposable Personal Income in Bangladesh increased to 53026.23 BDT THO in 2014 from
51307.87 BDT THO in 2013.
Tuesday July 28 2015
Bangladesh Imports at 249.46 BDT Billion
Imports in Bangladesh decreased to 249.46 BDT Billion in April from 269.46 BDT Billion in
March of 2015.
Tuesday July 28 2015
Bangladesh Inflation Rate MoM at -1.30 percent
The Consumer Price Index in Bangladesh decreased 1.30 percent in May of 2015 over the
previous month.
Tuesday July 28 2015
Bangladesh Unemployment Rate at 4.30 percent
Unemployment Rate in Bangladesh decreased to 4.30 percent in 2013 from 4.50 percent in 2012.
Tuesday July 28 2015
Bangladesh Corporate Tax Rate at 27.50 percent
The Corporate Tax Rate in Bangladesh stands at 27.50 percent.
Tuesday July 28 2015
Bangladesh GDP Constant Prices at 7745.39 BDT Billion
GDP Constant Prices in Bangladesh increased to 7745.39 BDT Billion in 2014 from 7298.97
BDT Billion in 2013.
Tuesday July 28 2015
Bangladesh GDP at 173.82 USD Billion
The Gross Domestic Product (GDP) in Bangladesh was worth 173.82 billion US dollars in 2014.
The GDP value of Bangladesh represents 0.28 percent of the world economy.
Tuesday July 28 2015
Bangladesh Sales Tax Rate at 15.00 percent
The Sales Tax Rate in Bangladesh stands at 15 percent.
Tuesday July 28 2015
Bangladesh Average One Month Interbank Rate at 5.79 percent
Interbank Rate in Bangladesh decreased to 5.79 percent in June of 2015 from 6.40 percent in
May of 2015.
Tuesday July 28 2015
Bangladesh Inflation Rate at 6.25 percent
The inflation rate in Bangladesh was recorded at 6.25 percent in June of 2015.
Tuesday July 28 2015
Bangladesh GDP Growth Rate at 6.01 percent
The Gross Domestic Product (GDP) in Bangladesh expanded 6.01 percent in 2013 from the
previous year.
Tuesday July 28 2015
Bangladesh Balance of Trade at -69.10 BDT Billion
Bangladesh recorded a trade deficit of 69.10 BDT Billion in April of 2015.
Tuesday July 28 2015
Bangladesh Corruption Rank at 145.00
Bangladesh is the 145 least corrupt nations out of 175 countries, according to the 2014
Corruption Perceptions Index reported by Transparency International.
Tuesday July 28 2015
Bangladesh Export Prices at 174.71 Index Points
Export Prices in Bangladesh increased to 174.71 Index Points in 2014 from 163.04 Index Points
in 2013.
Tuesday July 28 2015
Bangladesh Capital Flows at 1.40 BDT Billion
Bangladesh recorded a capital and financial account surplus of 1.40 BDT Billion in April of
2015.
Tuesday July 28 2015
Bangladesh GDP per capita PPP at 2991.33 USD
The Gross Domestic Product per capita in Bangladesh was last recorded at 2991.33 US dollars in
2014, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Bangladesh,
when adjusted by Purchasing Power Parity is equivalent to 17 percent of the world's average.
Tuesday July 28 2015
Bangladesh Terms of Trade at 85.98 Index Points
Terms of Trade in Bangladesh remained unchanged at 85.98 Index Points in 2014 from 85.98
Index Points in 2013.
The People’s Republic of China
China, officially the People's Republic of China (PRC), is a sovereign state in East Asia. It is the
world's most populous country, with a population of over 1.35 billion. The PRC is a single-party
state governed by the Chinese Communist Party, with its seat of government in the capital city
of Beijing. It exercises jurisdiction over 22 provinces, five autonomous regions, four direct-
controlled municipalities (Beijing, Tianjin, Shanghai and Chongqing), and two mostly self-
governing special administrative regions(Hong Kong and Macau). The PRC also claims the
territories governed by the Republic of China (ROC), a separate political entity today commonly
known as Taiwan, as a part of its territory, which includes the island of Taiwan as Taiwan
Province, Kinmen and Matsu as a part of Fujian Province and islands the ROC controls in
the South China Sea as a part of Hainan Province. These claims are controversial because of the
complex political status of Taiwan.
Covering approximately 9.6 million square kilometers, China is the world's second-largest
country by land area, and either the third or fourth-largest by total area, depending on the method
of measurement. China's landscape is vast and diverse, ranging from forest steppes and
the Gobi and Taklamakan deserts in the arid north to subtropical forests in the wetter south. The
Himalaya, Karakoram, Pamir and Tian Shan mountain ranges separate China
from South and Central Asia. The Yangtze and Yellow Rivers, the third- and sixth-longest in the
world, run from the Tibetan Plateau to the densely populated eastern seaboard. China's coastline
along the Pacific Ocean is 14,500 kilometers (9,000 mi) long, and is bounded by
the Bohai, Yellow, East and South China Seas.
China is considered a cradle of civilization, with its known history beginning with an ancient
civilization – one of the world‟s earliest – that flourished in the fertile basin of the Yellow
River in the North China Plain. For millennia, China's political system was based on hereditary
monarchies, known as dynasties, beginning with the semi-mythological Xia of the Yellow River
basin (c. 2800 BCE). Since 221 BCE, when the Qin Dynasty first conquered several states to
form a Chinese empire, the country has expanded, fractured and been reformed numerous times.
The Republic of China (ROC) overthrew the last dynasty in 1911, and ruled the Chinese
mainland until 1949. After the surrender of the Empire of Japan in World War II, the Communist
Party defeated the nationalist Kuomintang in mainland China and established the People's
Republic of China in Beijing on 1 October 1949, while the Kuomintang relocated the ROC
government to its present capital of Taipei.
China had the largest and most complex economy in the world for most of the past two thousand
years, during which it has seen cycles of prosperity and decline. Since the introduction
of economic reforms in 1978, China has become one of the world's fastest-growing major
economies. As of 2014, it is the world's second-largest economy by nominal total GDP and
largest by purchasing power parity (PPP). China is also the world's largest exporter and second-
largest importer of goods. China is a recognized nuclear weapons state and has the
world's largest standing army, with the second-largest defense budget. The PRC has been
a United Nations member since 1971, when it replaced the ROC as a permanent member of
the U.N. Security Council. China is also a member of numerous formal and informal multilateral
organizations, including the WTO, APEC, BRICS, the Shanghai Cooperation Organization,
the BCIM and the G-20. China is a great power and a major regional power within Asia, and has
been characterized as a potential superpower by a number of commentators.
The PRC has diplomatic relations with 171 countries and maintains embassies in 162 (BPA, US,
Mar 2011). Its legitimacy is disputed by the Republic of China and a few other countries; it is
thus the largest and most populous state with limited recognition. In 1971, the PRC replaced the
Republic of China as the sole representative of China in the United Nations and as one of the five
permanent members of the United Nations Security Council. China was also a former member
and leader of the Non-Aligned Movement, and still considers itself an advocate for developing
countries. Along with Brazil, Russia, India and South Africa, China is a member of
the BRICS group of emerging major economies and hosted the group's third official
summit at Sanya, Hainan in April 2011 (BBC, Apr 2011). Under its interpretation of the One-
China policy, Beijing has made it a precondition to establishing diplomatic relations that the
other country acknowledges its claim to Taiwan and severs official ties with the government of
the Republic of China. Chinese officials have protested on numerous occasions when foreign
countries have made diplomatic overtures to Taiwan,especially in the matter of armament
sales.Much of current Chinese foreign policy is reportedly based on Premier Zhou Enlai's Five
Principles of Peaceful Coexistence, and is also driven by the concept of "harmony without
uniformity", which encourages diplomatic relations between states despite ideological
differences. This policy may have led China to support states that are regarded as dangerous or
repressive by Western nations, such as Zimbabwe, North Korea and Iran. China has a close
economic and military relationship with Russia, and the two states often vote in unison in the UN
Security Council.
Trade relations
In recent decades, China has played an increasing role in calling for free trade areas and security
pacts amongst its Asia-Pacific neighbours. In 2004, it proposed an entirely new East Asia
Summit (EAS) framework as a forum for regional security issues(Dillon & Thacik, Dec 2005 –
Jan 2006).The EAS, which includes ASEAN Plus Three, India, Australia and New Zealand, held
its inaugural summit in 2005. China is also a founding member of the Shanghai Cooperation
Organization (SCO), along with Russia and the Central Asian republics. China became a
member of the World Trade Organization (WTO) on 11 December 2001. In 2000, the United
States Congress approved "permanent normal trade relations" (PNTR) with China, allowing
Chinese exports in at the same low tariffs as goods from most other countries. China has a
significant trade surplus with the United States, its most important export market. In the early
2010s, US politicians argued that the Chinese yuan was significantly undervalued, giving China
an unfair trade advantage (Palmer, Oct 2012). In recent decades, China has followed a policy
of engaging with African nations for trade and bilateral co-operation (Politzer, Feb 2013) in
2012, Sino-African trade totalled over US$160 billion. China has furthermore strengthened its
ties with major South American economies, becoming the largest trading partner of Brazil and
building strategic links with Argentina.
Environmental Factors
In recent decades, China has suffered from severe environmental deterioration and pollution,
while regulations such as the 1979 Environmental Protection Law are fairly stringent; they are
poorly enforced, as they are frequently disregarded by local communities and government
officials in favour of rapid economic development. Urban air pollution is a severe health issue in
the country; the World Bank estimated in 2013 that 16 of the world's 20 most-polluted cities are
located in China. China is the world's largest carbon dioxide emitter. The country also has water
problems. Roughly 298 million Chinese in rural areas do not have access to safe drinking
water, and 40% of China's rivers had been polluted by industrial and agricultural waste by late
2011.This crisis is compounded by increasingly severe water shortages, particularly in the north-
east of the country. However, China is the world's leading investor in renewable energy
commercialization, with $52 billion invested in 2011 alone; it is a major manufacturer of
renewable energy technologies and invests heavily in local-scale renewable energy projects. By
2009, over 17% of China's energy was derived from renewable sources – most notably
hydroelectric power plants, of which China has a total installed capacity of 197 GWatt, at around
2011, the Chinese government announced plans to invest four trillion yuan (US$618.55 billion)
in water infrastructure and desalination projects over a ten-year period, and to complete
construction of a flood prevention and anti-drought system by 2020 (China Times, July 11,
2011). In 2013, China began a five-year, US$277-billion effort to reduce air pollution,
particularly in the north of the country.
Key Indicators for China, P.R.: Mainland. (IFS)
China | Economic Indicators
China | Economic Indicators
Markets Last Reference Previous Range Frequency
Currency 6.21 Jul/15 6.21 1.53 : 8.73 Daily
Government Bond 10Y 3.45 percent Jul/15 3.49 2.51 : 4.85 Daily
Stock Market 3669 Index points Jul/15 3706 99.98 : 6092 Daily
GDP Last Reference Previous Range Frequency
GDP 10360 USD Billion Dec/14 9491 46.68 :
10360
Yearly
GDP Growth Rate 1.7 percent Jun/15 1.4 1.4 : 2.5 Quarterly
Markets Last Reference Previous Range Frequency
GDP Annual Growth
Rate
7 percent Jun/15 7 3.8 : 14.2 Quarterly
Gross National Product 634367 CNY HML Dec/14 566130 679 :
634367
Yearly
GDP per capita 3866 USD Dec/14 3619 83.33 : 3866 Yearly
Gross Fixed Capital
Formation
283018 CNY HML Dec/14 263028 80.7 :
283018
Yearly
GDP per capita PPP 12609 USD Dec/14 11805 1516 :
12609
Yearly
Labour Last Reference Previous Range Frequency
Unemployment Rate 4.04 percent Jun/15 4.1 3.9 : 4.3 Quarterly
Employed Persons 77253 Tens of
Thousands
Dec/14 76977 20729 :
77253
Yearly
Unemployed Persons 952 Thousand Mar/15 952 810 : 952 Quarterly
Job Vacancies 5600000 Jun/15 5250000 856007 :
6682486
Quarterly
Wages 56339 CNY/Year Dec/14 52388 445 : 56339 Yearly
Wages in
Manufacturing
51369 CNY/Year Dec/14 46431 597 : 51369 Yearly
Labour Costs 104 Index Points Jun/15 106 104 : 110 Quarterly
Population 1368 Million Dec/14 1361 552 : 1368 Yearly
Retirement Age Women 50 Dec/15 50 50 : 50 Yearly
Markets Last Reference Previous Range Frequency
Retirement Age Men 60 Dec/15 60 60 : 60 Yearly
Minimum Wages 2020 CNY/Month Dec/15 1820 690 : 2020 Yearly
Prices Last Reference Previous Range Frequency
Inflation Rate 1.4 percent Jun/15 1.2 -2.2 : 28.4 Monthly
Inflation Rate Mom 0 percent Jun/15 -0.2 -1.8 : 2.6 Monthly
Consumer Price Index
CPI
101 Index Points Jun/15 101 97.8 : 128 Monthly
Core Inflation Rate 1.7 percent Jun/15 1.6 -1.6 : 2.5 Monthly
Core Consumer Prices 102 Index Points Jun/15 102 98.4 : 102 Monthly
GDP Deflator 618 Index Points Dec/13 605 100 : 618 Yearly
Producer Prices 95.2 Index Points Jun/15 95.39 91.8 : 113 Monthly
Producer Prices Change -4.8 percent Jun/15 -4.6 -8.2 : 13.47 Monthly
Export Prices 97.7 Index Points May/15 98.5 90.7 : 112 Monthly
Import Prices 87.2 Index Points May/15 87.2 79.6 : 123 Monthly
Food Inflation 1.9 percent Jun/15 1.6 -5.5 : 40.2 Monthly
Money Last Reference Previous Range Frequency
Interest Rate 4.85 percent Jun/15 5.1 4.85 : 10.98 Daily
Interbank Rate 3.31 percent Jul/15 3.31 0 : 9.89 Daily
Money Supply M0 5860 CNY Billion Jun/15 5910 17.85 : 7649 Monthly
Markets Last Reference Previous Range Frequency
Money Supply M1 35608 CNY Billion Jun/15 34310 74.51 :
35608
Monthly
Money Supply M2 133338 CNY Billion Jun/15 130740 5840 :
133338
Monthly
Central Bank Balance
Sheet
337076 CNY Hundred
Millions
Jun/15 340761 34444 :
345411
Monthly
Foreign Exchange
Reserves
3690000 USD Million Jun/15 3730038 2262 :
3993213
Monthly
Banks Balance Sheet 1280 CNY Billion Jun/15 901 -32.1 : 1890 Monthly
Loans to Private Sector 885445 CNY Hundred
Million
Jun/15 872702 413413 :
885445
Monthly
Loan Growth 12.5 percent Jun/15 13.1 10.6 : 34.74 Monthly
Cash Reserve Ratio 18.5 Percent Apr/15 19.5 6 : 21.5 Monthly
Trade Last Reference Previous Range Frequency
Balance of Trade 465 USD Hundred
Million
Jun/15 589 -320 : 606 Monthly
Exports 1920 USD Hundred
Million
Jun/15 1901 13 : 2275 Monthly
Imports 1455 USD Hundred
Million
Jun/15 1312 16.6 : 1831 Monthly
Current Account 789 USD Hundred
Million
Mar/15 670 -8.96 : 1331 Quarterly
Current Account to
GDP
2.1 percent Dec/14 2 -3.7 : 10.1 Yearly
Markets Last Reference Previous Range Frequency
External Debt 8955 USD Hundred
Million
Dec/14 8632 158 : 8955 Yearly
Terms of Trade 112 Index Points May/15 113 81.75 : 118 Monthly
Foreign Direct
Investment
684 USD Hundred
Million
Jun/15 538 18.32 : 1196 Monthly
Capital Flows -789 USD HML Mar/15 -305 -789 : 1321 Quarterly
Tourist Arrivals 162 Tens of Thousands Jun/15 181 21.7 : 217 Monthly
Gold Reserves 1658 Tonnes Jun/15 1054 395 : 1658 Quarterly
Crude Oil Production 4254 BBL/D/1K Mar/15 4218 1012 : 4315 Monthly
Government Last Reference Previous Range Frequency
Government Budget -2.1 percent of GDP Dec/14 -2.1 -3.05 : 0.58 Yearly
Government Debt to
GDP
22.4 percent Dec/13 26 1 : 33.5 Yearly
Government Budget
Value
-3479 CNY HML Jun/15 1231 -15554 :
8067
Monthly
Government Spending 151662 CNY Hundred
Million
Dec/14 140212 68.1 :
151662
Yearly
Credit Rating 78.82 : Monthly
Government Revenues 140350 CNY Hundred
Million
Dec/14 129210 62.2 :
140350
Yearly
Business Last Reference Previous Range Frequency
Business Confidence 121 Mar/15 115 87.2 : 143 Quarterly
Markets Last Reference Previous Range Frequency
Manufacturing PMI 50.2 Jun/15 50.2 38.8 : 59.2 Monthly
Services PMI 51.8 Index Points Jun/15 53.5 50 : 54.7 Monthly
Industrial Production 6.8 percent Jun/15 6.1 -21.1 : 29.4 Monthly
Industrial Production
Mom
0.64 percent Jun/15 0.52 0.19 : 1.32 Monthly
Non-Manufacturing
PMI
53.8 percent Jun/15 53.2 50.8 : 62.2 Monthly
New Orders 50.1 Index Points Jun/15 50.6 32.3 : 65.1 Monthly
Changes in Inventories 12005 CNY HML Dec/14 11149 3 : 12662 Yearly
Car Registrations 1511400 Cars Jun/15 1609300 213534 :
2061044
Monthly
Car Production 1587400 Jun/15 1676900 215533 :
1969274
Monthly
Competitiveness Index 4.89 Points Dec/15 4.83 4.55 : 4.89 Yearly
Competitiveness Rank 28 Dec/15 29 26 : 34 Yearly
Corporate Profits 2844180 CNY Million Jun/15 2254760 1617 :
6471530
Monthly
Corruption Index 36 Points Dec/14 40 21.6 : 40 Yearly
Corruption Rank 100 Dec/14 80 40 : 100 Yearly
Ease of Doing Business 90 Dec/14 96 86 : 99 Yearly
Leading Economic
Index
98.97 Index Points May/15 98.31 97.43 : 115 Monthly
Markets Last Reference Previous Range Frequency
Manufacturing
Production
7.7 percent Jun/15 6.7 6.5 : 11.4 Monthly
Total Vehicle Sales 1803100 Vehicles Jun/15 1903800 88416 :
2410089
Monthly
Consumer Last Reference Previous Range Frequency
Consumer Confidence 110 May/15 108 97 : 125 Monthly
Retail Sales MoM 0.96 percent Jun/15 0.81 0.14 : 1.57 Monthly
Retail Sales YoY 10.6 percent Jun/15 10.1 10 : 19.9 Monthly
Consumer Spending 241542 CNY HML Dec/14 219762 453 :
241542
Yearly
Disposable Personal
Income
28844 CNY Dec/14 26955 343 : 28844 Yearly
Personal Savings 0.35 percent Dec/15 0.35 0.35 : 3.15 Yearly
Bank Lending Rate 4.85 percent Jul/15 5.1 4.85 : 12.06 Monthly
Consumer Credit 167176 Hundreds CNY
Million
Jun/15 163491 59106 :
167176
Monthly
Gasoline Prices 0.87 USD/Liter Jun/15 0.93 0.27 : 1.37 Monthly
Housing Last Reference Previous Range Frequency
Housing Index -4.9 percent Jun/15 -5.7 -6.1 : 9.9 Monthly
Taxes Last Reference Previous Range Frequency
Corporate Tax Rate 25 percent Dec/15 25 25 : 33 Yearly
Markets Last Reference Previous Range Frequency
Personal Income Tax
Rate
45 percent Dec/14 45 45 : 45 Yearly
Sales Tax Rate 17 percent Dec/15 17 17 : 17 Yearly
Social Security Rate 48 percent Dec/13 48 48 : 48 Yearly
Social Security Rate For
Companies
37 percent Dec/13 37 37 : 37 Yearly
Social Security Rate For
Employees
11 percent Dec/13 11 11 : 11 Yearly
China | Economic Trends
Wednesday July 15 2015
China GDP Expands 1.7% QoQ in Q2
The Chinese economy grew a quarter-on-quarter seasonally adjusted 1.7 percent in the second
quarter of 2015, accelerating from an upwardly revised 1.4 percent expansion from January to March
and matching market consensus.
Wednesday July 15 2015
China GDP Growth Steady in Q2
The Chinese economy grew an annual 7.0 percent in the second quarter of 2015, the same pace as in
the previous three-month period and slightly beating market consensus. An increase in
manufacturing and a rebound in exports were able to offset cooling property market and steady
investment.
Monday July 13 2015
China Trade Surplus Widens in June
China trade surplus increased to USD 46.54 billion in June of 2015 from USD 31.8 billion reported a
year earlier but below market forecasts, as exports unexpectedly grew while imports declined at a
slower pace.
Thursday July 09 2015
Markets Last Reference Previous Range Frequency
China Inflation Rate Accelerates in June
China's annual inflation rate was recorded at 1.4 percent in June of 2015, up from 1.2 percent
increase in the previous month and beating market consensus. The politically sensitive food prices
increased by 1.9 percent while non-food cost rose at a slower 1.2 percent.
Saturday June 27 2015
China Cuts Benchmark Interest Rate to 4.85%
The Peoples' Bank of China has cut benchmark interest rates to a record low of 4.85 percent effective
June 28th and lowered the amount of reserves certain banks are required to hold following Friday's
stock market slump.
Tuesday June 09 2015
China Inflation Rate Eases in May
China's annual inflation rate was recorded at 1.2 percent in May of 2015, slowing from 1.5 percent
increase in the previous month and slightly below market consensus. The politically sensitive food
prices increased by 1.6 percent while non-food cost rose at a slower 1.0 percent.
Monday June 08 2015
China Trade Surplus Widens More than Expected
China trade surplus increased to USD 59.49 billion in May of 2015 from USD 35.92 billion reported
a year earlier. This is the third-biggest monthly surplus on record as imports declined more than
exports.
Sunday May 10 2015
China Cuts Interest Rate to 5.1%
The People's Bank of China cut its benchmark lending rates by 25 basis points to 5.1 percent on May
10th. It is the third reduction since November prompted by low growth, declining property prices.
Saturday May 09 2015
China Inflation Rate Rises to 1.5% in April
China's annual inflation rate was recorded at 1.5 percent in April of 2015, edging up from 1.4 percent
increase in the previous month and slightly below market consensus. The politically sensitive food
prices increased by 2.7 percent while non-food cost rose at a slower 0.9 percent.
Friday May 08 2015
China Trade Surplus Rises More Than Expected
China trade surplus widened to USD 34.13 billion in April of 2015 from USD 18.43 billion reported
Markets Last Reference Previous Range Frequency
a year earlier, as exports unexpectedly declined and imports fell further.
Monday April 20 2015
China Cuts Reserve Ratio by 1%
The People‟s Bank of China lowered the reserve requirement ratio for all commercial banks by 100
bps to 18.5 percent, aiming to boost credit and growth.
Wednesday April 15 2015
China Quarterly GDP Growth Hits Record Low
The Chinese economy grew a quarter-on-quarter seasonally adjusted 1.3 percent in the first three
months of 2015, slowing from a 1.5 percent increase from October to December. It is the lowest
growth figure since records began in 2010.
Wednesday April 15 2015
China GDP Growth at 6-Year Low
The Chinese economy expanded 7.0 percent in the first quarter of 2015, down from a 7.3 percent
increase in the previous three-month period. It is the lowest growth rate since the March quarter of
2009, due to a slowdown in manufacturing and property investment.
Monday April 13 2015
China Trade Surplus Narrows on Falling Exports
China reported a USD 3.08 billion trade surplus in March of 2015, down from a USD 7.70 billion
surplus a year earlier and well below market expectations. While exports fell the most in a year,
imports posted the biggest drop since May of 2009.
Friday April 10 2015
China Inflation Rate Steady in March
China's annual inflation rate was recorded at 1.4 percent in March of 2015, the same as in the
previous month and above market expectations. The politically sensitive food prices increased 2.3
percent while non-food cost rose at a slower 0.9 percent.
Tuesday March 10 2015
China Inflation Rate Up to 1.4%
China's annual inflation rate accelerated to 1.4 percent in February of 2015 from a five-year low 0.8
percent in the previous month and faster than market expectations. The politically sensitive food
prices increased 2.4 percent while non-food cost rose at a slower 0.9 percent.
Sunday March 08 2015
Markets Last Reference Previous Range Frequency
China's Trade Surplus at New Record High in February
China reported a USD 60.6 billion trade surplus in February of 2015 compared with a USD 22.9
billion deficit a year earlier as exports surged while imports dropped.
Saturday February 28 2015
China Cuts Benchmark Interest Rate to 5.35%
The People‟s Bank of China cut the one-year lending rate by 25 basis points to 5.35 percent on
February 28th amid rising deflationary pressure, low growth and declining property prices.
Tuesday February 10 2015
China Inflation Rate Eases to 5-Year Low
China's annual inflation rate slowed to 0.8 percent in January, significantly down from 1.5 percent in
the previous month and touching the lowest level since November of 2009. The politically sensitive
food prices increased 1.1 percent while non-food cost rose at a slower 0.6 percent.
Sunday February 08 2015
China Posts Highest Trade Surplus on Record in January
China reported a USD 60 billion trade surplus in January of 2015 compared with a USD 31.86
billion surplus a year earlier as imports fell at a faster pace than exports.
Wednesday February 04 2015
China Cuts Reserve Ratio by 0.5%
The People‟s Bank of China lowered the reserve requirement ratio for all commercial banks by 50
bps to 19.5 percent on February 4th, aiming to boost credit and growth.
Tuesday January 20 2015
China Quarterly GDP Growth Slows in Q4
The Chinese economy expanded 1.5 percent quarter-on-quarter seasonally adjusted in the last three
months of 2014, slowing from a 1.9 percent growth reported from June to September.
Tuesday January 20 2015
Chinese Economy Expands 7.3% in Q4
China's GDP grew 7.3 percent year-on-year in the fourth quarter of 2014, the same as in the previous
period and slightly better than expected. Like in Q3, cooling property market, weakening investment
and unstable exports weighted on the growth.
Tuesday January 13 2015
China Reports USD 49.6 B Trade Surplus in December
Markets Last Reference Previous Range Frequency
China reported a USD 49.6 billion trade surplus in December of 2014, up from a USD 25.6 billion
surplus a year earlier. It is the third highest surplus on record, as exports beat market expectations
and surged 9.7 percent year-on-year.
Friday January 09 2015
China Inflation Rate Rises to 1.5% in December
China's annual consumer inflation edged up to 1.5 percent in December from 1.4 percent in the
previous month. The politically sensitive food prices accelerated to 2.9 percent while non-food cost
rose at a slower 0.8 percent.
Wednesday December 10 2014
China Inflation Rate Eases to Nearly 5-Year Low in November
China's annual inflation rate slowed to 1.4 percent in November, down from 1.6 percent increase in
the previous month and touching the lowest level since January 2010. The politically sensitive food
prices accelerated to 2.3 percent while non-food cost rose at a slower 1.0 percent.
Monday December 08 2014
China Trade Surplus Jumps to Record High in November
China trade surplus widened to USD 54.5 billion in November of 2014 from a USD 33.80 billion a
year earlier, touching a new record high, as exports grew by 4.7 percent while imports unexpectedly
declined by 6.7 percent.
Friday November 21 2014
China Cuts Interest Rates
The People´s Bank of China decided to cut its benchmark one-year lending rate by 40 bps to 5.6
percent on November 21st. It is the first rate cut in more than two years as the economy slows.
Monday November 10 2014
China's Inflation Rate Steady in October
China's annual inflation rate was recorded at 1.6 percent in October, unchanged from the previous
month. The politically sensitive food prices accelerated to 2.5 percent while non-food cost rose at a
slower 1.2 percent.
Saturday November 08 2014
China Trade Surplus Widens 46.5%
Chinese trade surplus increased to USD 45.4 billion in October of 2014 from a USD 31 billion
surplus a year earlier. Exports rose more than expected driven by sales to the United States and Asia
while imports slowed.
Markets Last Reference Previous Range Frequency
Tuesday October 21 2014
China GDP Growth at Five-Year Low
In the third quarter of 2014, China's gross domestic product expanded 7.3 percent year-on-year,
slumping to a five-year low. The slowdown was driven by lower property investment, dwindling
credit growth and weakening industrial production.
Tuesday October 21 2014
China Quarterly GDP Growth at 1.9% in Q3
The Chinese GDP expanded a quarter-on-quarter seasonally adjusted 1.9 percent in the third quarter
of 2014, slowing from a 2 percent expansion in the previous three months, but above market
expectations.
Wednesday October 15 2014
China Inflation Slows Further in September
China annual inflation rate eased to 1.6 percent in September of 2014, down further from 2.0 percent
in the previous month and below market forecasts. The politically sensitive food prices increased 2.3
percent year-on-year, lower than a 3.0 percent rise in August while non-food prices grew 1.3 percent,
softening from a 1.5 percent increase a month ago.
Monday October 13 2014
China Trade Surplus Widens in September
China trade surplus increased to USD 31.0 billion in September of 2014 from USD 15.2 billion a
year earlier, as exports grew more than expected while imports rebounded.
Wednesday September 17 2014
PBoC Injects USD 81 Billion into Major 5 Banks
China‟s central bank is said to be injecting CNY 500 billion (USD 81 billion) into the banking
system, aiming to support credit and growth.
Thursday September 11 2014
China Inflation Rate Eases in August
China annual inflation rate eased to 2.0 percent in August of 2014, down from 2.3 percent in the
previous month and below market forecasts. The politically sensitive food prices increased 3.0
percent year-on-year, lower than a 3.6 percent rise in July while non-food prices grew 1.5 percent,
softening from a 1.7 percent increase a month ago.
Monday September 08 2014
China Trade Surplus Hits New Record High in August
Markets Last Reference Previous Range Frequency
China trade surplus widened to USD 49.83 billion in August of 2014 from USD 28.5 billion a year
earlier, beating market forecasts. The surplus hit a record high for the second straight month in
August, as exports grew robustly while imports fell.
Saturday August 09 2014
China Inflation Rate Remains Stable in July
China annual inflation rate rose 2.3 percent in July, the same as in the previous month. The
politically sensitive food prices eased to 3.6 percent, from 3.7 percent in June, while non-food prices
grew 1.6 percent after gaining 1.7 percent a month ago.
Friday August 08 2014
China Trade Surplus Hits Record High
China trade surplus increased to USD 47.3 billion in July of 2014 from USD 31.6 billion in the
previous month, beating market forecasts, as exports jumped while imports fell.
Wednesday July 16 2014
Chinese GDP Advances 2% QoQ in Q2
The Chinese economy advanced 2 percent quarter-on-quarters in the three months to June 2014, up
from a revised 1.5 percent increase in the previous period.
Wednesday July 16 2014
China's Economy Expands 7.5% in Q2
China's GDP grew 7.5 percent from April to June from a year earlier, slightly more than expectations
and up from 7.4 percent in the first quarter boosted by a series of stimulus measures announced by
the government in April.
Thursday July 10 2014
China Trade Surplus Narrows in June
Chinese trade surplus decreased to USD 31.6 billion in June of 2014 from USD 35.9 billion in May.
While imports rebounded from last month's fall, exports rose less than expected.
Wednesday July 09 2014
China Inflation Rate Slows in June
Chinese annual inflation rate eased to 2.3 percent in June, down from 2.5 percent in May. The
politically sensitive food prices increased 3.7 percent, lower than a 4.1 percent rise in the previous
month, while non-food prices went up 1.7 percent.
Markets Last Reference Previous Range Frequency
China - Bangladesh Relationships
“The History”
As described by Chinese Explorer and Admiral Zheng He whilst undertaking voyages to Bengal,
from Chittagong to Sonargaon “…..We started from the Kingdom of Sumatra, sailed with the
wind for twenty days and anchored in Chittagong. From there we took small boats for over 500 li
(250 kilometers) to Sonargaon....There was a guard of honor of thousands of people
accompanying us along the way. The Sultan's palace was tall and spacious with pillars in the
color of brass and decorated with flower and animal carvings. There were long corridors on both
sides with thousands of armed cavalry squads inside and extraordinarily strong and dignified
soldiers equipped with swords, bows and arrows outside. On the left and right of vermilion steps
leading up to the palace there were over a hundred parasols made of peacock feathers. Hundreds
of elephant squads lined up in front of the palace. The Sultan wore a crown studded with eight
gems and sat on the throne with a sword on his knees. Two men with silver staffs came and
guided the emperor's envoy forward. The locals are followers of Islam. They are honest and pure
and speak a language called Bengali. Some men wrap their foreheads in white cloth and wear
long white shirts. Some others are wrapped in colorful cloth from the waist down. Women are
dressed in short shirts and draped with brocades. The kingdom is densely populated and has
abundant resources and fertile lands. Hard-working men plough the fields while diligent women
weave cloth. Many of the rich build ships and go abroad for business….” (Anon, 2010)
Diplomatic Relations In 1977, President Ziaur Rahman became the first leader of independent Bangladesh to visit the
PRC. Successive governments in Bangladesh followed the policy of building close relations with
China, in response to mutual mistrust and imbalance with neighboring India. Politically,
President Ziaur Rahman's party the Bangladesh Nationalist Party is closely tied to China
while Awami League is to India although Awami League has a healthy and amicable relation
with China.
By the mid-1980s, China had forged close military, commercial and cultural ties with
Bangladesh and also supplied it with military aid and equipment. The then-president of
Bangladesh Hossain Mohammad Ershad was received with much fanfare and warmth when he
visited Beijing in July 1987. A Bangladesh-China friendship bridge was constructed and
inaugurated over river Buriganga connecting Dhaka-Bikrampur Munshigonj by the Chinese as
token of this newly advancing diplomatic and military relationship. On 4 October 2000, Ministry
of Post and Telecommunications (Bangladesh) issued a postal stamp marking the 25th
anniversary of the establishment of Bangladesh-China diplomatic relations. By this time, China
had provided economic assistance totaling US$300 million to Bangladesh and the bilateral trade
had reached a value mounting to a billion dollars. In 2002, the Chinese Premier Wen
Jiabao made an official visit to Bangladesh and both countries declared 2005 as the "Bangladesh-
China Friendship Year. The two countries signed nine different bi-lateral agreements to increase
their mutual relationship. On Bangladesh Nationalist Party PM Begum Khaleda Zia's invitation
China was added as an observer in the South Asian Association for Regional
Cooperation (SAARC). After Cyclone Sidr hit Bangladesh in 2007, China donated
US$1 million for relief and reconstruction in cyclone-hit areas (Xinhua, 2006).
Military Relations
The Bangladesh Army has been equipped with Chinese tanks, its navy has Chinese
frigates and missile boats and the Bangladesh Air Force flies Chinese fighter jets. In 2002, China
and Bangladesh signed a "Defense Cooperation Agreement" which covers military training and
defense production. In 2006, in a report submitted to the United Nations by China, for its exports
and imports of major conventional arms revealed Dhaka is emerging as a major buyer of
weapons made in China. China sold 65 large caliber artillery systems, 16 combat aircraft and
114 missile and related equipment to Bangladesh in 2005. Besides this, some 200 small arms
like pistols and sub-machine guns have also been imported along with regular 82-mm mortars.
In 2008, Bangladesh set up an anti-ship missile launch pad near the Chittagong Port with
assistance from China. The maiden missile test was performed on 12 May 2008 with active
participation of Chinese experts. It successfully test-fired anti-ship missile C-802A with a strike
range of 120 km from the frigate BNS Osman near Kutubdia Island in the Bay of Bengal. BNS
Osman which was commissioned in 1989 is a 1500-ton Chinese built Jianghu class Frigate, and
the C-802A missile is a modified version of Chinese Ying Ji-802 with weight reduced from
815 kg to 715 kg to increase the strike range from 42 km to 120 km.
Economic Relations
Bangladesh is third largest trade partner of China in South Asia. But, the bilateral trade between
them is highly tilted in favor of Beijing. Bilateral trade reached as high as US$3.19 billion in
2006, reflecting a growth of 28.5% between 2005 and 2006. China has bolstered its economic aid
to Bangladesh to address concerns of trade imbalance; in 2006, Bangladesh's exports to China
amounted only about USD 98.8 million. Under the auspices of the Asia-Pacific Free Trade
Agreement (AFTA), China removed tariff barriers to 84 types of commodities imported from
Bangladesh and is working to reduce tariffs over the trade of jute and textiles, which are
Bangladesh's chief domestic products. China has also offered to construct nuclear power
plants in Bangladesh to help meet the country's growing energy needs, while also seeking to aid
the development of Bangladesh's natural gas resources. China's mainly imports raw materials
from Bangladesh like leather, cotton textiles, fish, etc. China's major exports to Bangladesh
include textiles, machinery and electronic products, cement, fertilizer, tire, raw silk, maize, etc.
In 2005, Chinese premier Wen Jiabao visited Bangladesh on an official visit on 7 and 8 April.
Various agreements were signed during this visit. On transportation side, China and Bangladesh
have agreed to start a direct air transport route between Dhaka and Beijing via Kunming.
Also Kunming-Chittagong road link through Myanmar is also considered. The Chinese premier
readily agreed to constructing the Di-Aluminium Phosphate (DAP) fertiliser factory in
Chittagong entirely on concessional lending instead of on supplier's credit. In 2007, Chinese
Assistant Minister of Commerce, Wang Chao visited Bangladesh with the 39-member purchase
delegation. It is the biggest purchase delegation ever to Bangladesh with over 10 companies
listed in China's top 500 and some of them in world's top 500. Delegation is reported to have
purchased Bangladeshi goods worth over USD $50 million. Both countries accepted to build a
"Bangladesh-China Friendship Exhibition Center" in Dhaka. Bangladesh's relationship with
China has historically affected India in one way or another. In 2007, news reports claimed that
China was planning to divert the water of Brahmaputra River to its north-west regions (Habib,
Haroon).
Bilateral Relations
In 2013, the closer comprehensive partnership of cooperation between the People's
Republic of China and the People's Republic of Bangladesh continued to grow with exchanges
and cooperation deepened in various fields. Exchanges between the two countries were close at
all levels, and political mutual trust was enhanced. In July, Foreign Minister Wang Yi met with
Bangladeshi Foreign Minister Dipu Moni in Brunei during the East Asian Foreign Ministers'
Meetings. In September, Foreign Minister Wang Yi met with Bangladeshi Prime Minister Sheikh
Hasina in New York during the UN General Assembly. In the same month, Vice President Li
Yuanchao met Speaker of the Bangladeshi National Parliament Shirin Sharmin Chowdhury in
Kunming on the sidelines of the "International Day of Peace 2013 and China-South Asia Peace
and Development Forum".
In June, Bangladeshi Foreign Secretary Md. Shahidul Haque visited China. In the same month,
Bangladeshi Minister of Industries Dilip Barua and International Affairs Adviser to the Prime
Minister Gowher Rizvi attended the first China-South Asia Expo as representatives of the guest
of honor nation. In October, Bangladeshi Foreign Minister Dipu Moni visited China, during
which she met with Vice President Li Yuanchao and had talks with Foreign Minister Wang Yi.
In December, Foreign Secretary Haque attended the first meeting of the BCIM Economic
Corridor's joint study group in Kunming. The two countries had active party-to-party and
military-to-military exchanges. In August, General Iqbal Karim Bhuiyan, Chief of Army Staff of
the Bangladeshi Army, visited China. Chinese Navy hospital ship "Peace Ark" visited
Chittagong. In September, Chief of Air Staff of the Bangladeshi Air Force Muhammad Enamul
Bari visited China. The Young Cadre Delegation of the Awami League and Bangladesh
Nationalist Party and leaders of left-wing parties visited China respectively. Business
cooperation yielded fruitful results, and the bilateral trade volume grew rapidly. Projects
undertaken by the Chinese side, including the Padma Water Treatment Plant and the Shahjalal
Fertilizer Company, made smooth progress. The 3G network project was officially put into
commercial operation. Consular relations between the two countries continued to grow, and
cultural exchanges further deepened. In October, the Bangladeshi Consulate- General in
Kunming was inaugurated, bringing greater convenience to friendly people-to-people exchanges
between the two countries. Signature cultural events such as the "Happy Chinese New Year"
activities and the "Chinese Bridge" Chinese proficiency competition for college students were
held as usual. (FMPRC, 2013)
Bilateral Investment Relations
China is the largest trading partner of Bangladesh, with total bilateral trade volume coming to
$8.287 billion in fiscal 2013-14. However, it is expected to grow to more than $10 billion in this
current fiscal year. In fiscal 2013-14, Bangladesh imported $7.5 billion worth of goods from
China and exported only $746.20 million worth of goods to China. So there is ample scope of
not only increasing export from Bangladesh to China but also re-locating labour intensive
industries from China to Bangladesh.
China, today, with almost $10 trillion of GDP, is the second largest economy and the largest
exporter in the world having the highest foreign exchange reserve of about $4 trillion. In the
global landscape, five Chinese corporate houses stand in the top ten. Over the next five years,
there will be some major developments in China: $500 billion is expected to be invested by the
government and Chinese corporate houses in different countries; China is expected to import $10
trillion worth of products and export products worth $20 trillion; and 400 million Chinese
tourists will travel to various destinations. Bangladesh can tap into this potential (ICCB-C, 2015)
(http://iccbangladesh.org.bd/view_upcomming.php?pageid=344) {ICC Seminar on
Bangladesh - China Trade Finance: Role of Banks
Kunming, China; 21-22 August, 2015}
Graph 1
Joint Statement between the People's Republic of China and the People's Republic of Bangladesh
At the invitation of Premier Wen Jiabao of the State Council of the People's Republic of China,
Prime Minister Sheikh Hasina of the People's Republic of Bangladesh paid an official visit to
China from 17 to 21 March, 2010. During the visit, President Hu Jintao and Chairman Wu
Bangguo of the National People's Congress Standing Committee received the Bangladesh Prime
Minister. Premier Wen Jiabao and Prime Minister Sheikh Hasina held official talks. The leaders
of the two countries had an in-depth exchange of views and reached agreement on newer
directions for taking China-Bangladesh relations forward.
Trade & Regional Issues
The two countries have exchanged views on international and regional issues of mutual interest
and identified areas for collective initiatives to face contemporary global challenges.
1. The two sides reviewed the course of bilateral relations since the establishment of diplomatic
relations 35 years ago, and extolled active cooperation and partnership that has sustained
between the two countries in the political, economic, social, and cultural fields. The two sides
recalled that the relations between the peoples of the two countries date back many centuries.
They also recalled that the successive leaders of the two countries made important contributions
to the development of China-Bangladesh relations.
The two sides agreed that consolidation and enhancement of China-Bangladesh friendship and
cooperation serve the fundamental interests of both countries, meet the common aspirations of
the two peoples and are conducive to peace and development in the region and the world at large.
The two sides decided to establish a "Closer Comprehensive Partnership of Cooperation"
between China and Bangladesh from the strategic perspective and on the basis of the principles
of longstanding friendship, equality, and mutual benefit.
The two sides noted that 4 October 2010 marks the 35th anniversary of diplomatic relations
between China and Bangladesh. They agreed to hold various commemorative activities in
Beijing and Dhaka, and take this opportunity to promote and further develop the existing friendly
relations between the two countries.
2. The two sides agreed to continue to exchange high-level visits and contacts between the two
countries, intensify friendly exchanges between government agencies, parliaments, political
parties, armed forces, and non-governmental groups of the two countries; promote
communication and cooperation at the local government level, and enhance the cooperation
mechanisms, including diplomatic consultations, the Joint Economic and Trade Committee and
Joint Agriculture Committee.
3. Both sides reiterated their conviction that economic cooperation and trade constitute an
important part of the comprehensive partnership between China and Bangladesh. In this regard,
the two sides agreed to intensify cooperation in trade, investment, agriculture, transportation and
infrastructure development on the basis of equality and mutual benefit.
(a) The two sides will take active measures to expand bilateral trade and ease trade imbalance.
The Chinese side will provide preferential tariff treatment to more Bangladeshi products and
continue to boost the bilateral investment and trade activities. The Bangladesh side will
encourage Bangladeshi enterprises to actively participate in the Shanghai World Expo 2010 and
other commodity fairs in China to boost Bangladesh's exports to China.
(b) The Chinese side expressed its commitment to continue to offer assistance to Bangladesh to
the best of its ability in support of the economic and social development of Bangladesh. The
Bangladesh side expressed its heartfelt appreciation in this regard. The two sides signed the
Agreement on Economic and Technical Cooperation between the Government of the People's
Republic of China and the Government of the People's Republic of Bangladesh, the Framework
Agreement between the Government of the People's Republic of China and the Government of
the People's Republic of Bangladesh on a Concessional Loan Provided by China to Bangladesh,
and the Exchange of Letters on the Construction of the 7th Bangladesh-China Friendship Bridge
at Kajirtek. The two sides agreed to intensify efforts to resolve technical matters of such further
projects as the construction of the Bangladesh-China Friendship Exhibition Centre.
(c) The two sides encourage and support their own enterprises to carry out two-way investment
and mutually beneficial cooperation, and provide facilitation for enterprises of both sides in
project contracting and labor service cooperation. The Bangladesh side welcomes the active
involvement of Chinese enterprises in the energy, communication, transportation, industry and
infrastructure sectors in Bangladesh. The Chinese side would encourage and support capable and
reputable Chinese enterprises to explore and carry out investment cooperation in the above-
mentioned fields in Bangladesh, and to provide possible facilitation and financing support for the
mutually agreed cooperation projects. During this visit, China National Petroleum Corporation
signed a Memorandum of Understanding on Cooperation in Oil and Gas Sector with Bangladesh
Oil, Gas & Mineral Corporation and Bangladesh Petroleum Corporation.
(d) The two sides agreed to enhance transport links and, in this connection, to continue to discuss
the possibility of building road and rail links between the two countries.
(e) The two sides will, based on the Memorandum of Understanding on Agriculture Cooperation
between the Ministry of Agriculture of the People's Republic of China and the Ministry of
Agriculture of the People's Republic of Bangladesh signed in 2005, actively carry out
cooperation in hybrid rice cultivation technology, agricultural machinery technology, exchange
of germ plasm resources of crops, farm products processing and technical personnel training.
The two sides will enhance exchanges between technical and managerial personnel of
agriculture, and further explore the specific ways and means of expanding agricultural
cooperation.
(f) The two sides agreed to carry out sustainable cooperation on hydrological data sharing and
flood control of river Yarluzangbu/Brahmaputra, in view of its necessity to the disaster reduction
in Bangladesh. The two sides agreed to strengthen cooperation on water resources management,
hydrological data sharing, and flood control and disaster reduction, based on the exchange of
letters between the Ministries of Water Resources of the two countries in 2005. At the request of
the Bangladesh side, the Chinese side agreed to provide assistance for dredging of riverbeds and
for capacity building through training of personnel.
(g) The Bangladesh side hopes that China could launch a communication satellite in orbit for
Bangladesh in the near future. The Chinese side expressed interest to carry out cooperation with
Bangladesh in this field.
4. In commemorating the 35th anniversary of our relations, the two sides agreed to further widen
people-to-people and cultural exchanges and cooperation with a view to promoting mutual
understanding and friendship between the peoples of the two friendly countries.
(a) The Chinese People's Association for Friendship with Foreign Countries (CPAFFC) and the
Bangladesh-China People's Friendship Association will jointly host the China-Bangladesh
Friendship and Brightness (Ophthalmic) Trip, meaning, a team of Chinese medical experts will
visit Bangladesh to offer free medical treatment to Bangladeshi cataract patients.
(b) The Chinese side will continue to provide government scholarships to Bangladesh and in the
meanwhile welcome Bangladeshi students to China for study under other programs and through
other channels. The Chinese side agreed to provide Chinese government scholarships annually
for young Bangladeshi diplomats to study in China. At the request of the Bangladesh side, the
Chinese side agreed to gradually increase the number of scholarships provided to Bangladeshi
students depending upon circumstances. The two sides will strengthen exchanges and
cooperation for capacity building in Chinese language and human resources.
(c) The two sides will actively expand exchanges and cooperation in culture, press, health, sports
and tourism and promote contacts between the media organizations, think tanks, scholars,
friendship groups, women's groups, cultural troupes, athletes and youths.
5. The two sides agreed to consider negotiating and signing a bilateral consular agreement and
will conduct consultations in this regard through diplomatic channels.
The two sides also agreed to set up a bilateral consular consultation mechanism at an appropriate
time to jointly discuss visa and other consular issues of mutual concern.
6. The two sides agreed to strengthen exchanges and cooperation between the militaries and law
enforcement departments to safeguard respective national security and stability and promote
peace and stability in the region.
7. The Chinese side reiterated that it respects Bangladesh's independence, sovereignty and
territorial integrity and its support for the efforts of Bangladesh to uphold national stability and
promote social development. The Bangladeshi side reiterated that there is but one China in the
world, the Government of the Peoples' Republic of China is the sole legal government
representing the whole China, and Taiwan and Tibet are inalienable parts of the Chinese
territory. The Bangladesh side also reiterated its support for China's efforts in upholding
sovereignty, unity and territorial integrity.
8. The two sides agreed to strengthen communication and coordination in regional cooperation.
The Chinese side expressed appreciation for the active efforts made by Bangladesh to promote
South Asian regional cooperation. The Bangladesh side expressed support for Chinese efforts to
enhance cooperation with the SAARC community. The two sides agreed to actively participate
in and promote the BCIM regional economic cooperation process.
9. The two sides recognized the commonalities and shared perceptions of the two states in
international and regional affairs, including the global financial crisis, climate change, energy
and food security as well as issues relating to the aspirations and challenges of developing
countries. The two sides agreed to maintain close coordination and cooperation to uphold the
common interests of the two countries as well as that of the developing countries in general. The
two sides also agreed to hold consultations on climate change at an appropriate time within this
year. China will support Bangladesh in enhancing its capability to tackle climate change
challenges.
10. Prime Minister Sheikh Hasina expressed her deep appreciation for the warm and friendly
hospitality accorded to her during the visit, and extended a sincere invitation to Chinese leaders
to pay official visits to Bangladesh at mutually convenient time. The Chinese leaders expressed
their appreciation and accepted the invitation with pleasure.
'China-Bangladesh relations have become the model of friendship between countries with
different social systems and different cultures' In March and June 2010, H.E. Sheikh Hasina,
Prime Minister of Bangladesh, and H.E. Xi Jinping, Vice President of China, had a successful
exchange of visits. The two sides issued a Joint Statement and decided to establish and develop a
"Closer Comprehensive Partnership of Cooperation" between China and Bangladesh from the
strategic perspective and on the basis of the principles of longstanding friendship, equality and
mutual benefit. I believe this set the direction of and provided the guidelines for the development
of our bilateral relationship.
The traditional friendship between our two peoples date back to over two thousand years ago.
Since the establishment of diplomatic relations in 1975, China-Bangladesh ties have been
developing in a smooth manner and the pragmatic cooperation in various fields has been further
strengthened. It was the efforts that successive governments and the peoples of our two countries
have made that contributed to the enhancement of China-Bangladesh friendship. Currently, the
development of relations between China and Bangladesh enjoys the right time, right place, and
right people. China is implementing the 12th Five Year Plan with scientific development as
guidance and transforming economic growth pattern as the main objective. At the same time,
Bangladesh is pushing forward the "Digital Bangladesh" and "Vision 2012." Our development
strategies have provided us great scope for cooperation. China and Bangladesh are close
neighbours, the region where we are situated has been experiencing rapid growth, which created
more opportunities for regional and international cooperation. Apart from that, our bilateral
relationship has neither problems left from history, nor conflicts of interest at present.
Compassion, understanding, support, and mutual-assistance have always been the main theme of
our relationship.
In March and June 2010, H.E. Sheikh Hasina, Prime Minister of Bangladesh and H.E. Xi
Jinping, Vice President of China had an exchange of visits to each other's countries. The two
sides decided to establish a "Closer Comprehensive Partnership of Cooperation" from the
strategic perspective and on the basis of the principles of longstanding friendship, equality, and
mutual benefit. A Joint Statement was also issued which reflected the consensus reached by
leaders of both countries to further consolidate and develop China-Bangladesh relationship.
Since then, there have been positive developments in bilateral relationship. There have been
constant exchanges of high-level visits between the two countries. The Speaker of Bangladesh
Parliament Abdul Hamid and Foreign Minister Dipu Moni, as well as many ministers, have
visited China. Liu Qi, Member of Political Bureau of the Central Committee of Communist Party
of China (CPC) and Secretary of CPC Beijing Municipal Committee, Qin Guangrong, Governor
of Yunnan Province of China as well as other high level officials visited Bangladesh.
There has been much progress in bilateral economic and trade cooperation. Bilateral trade
volume in 2011 reached $8.26 billion, with an increase of 17% compared with 2010.
Bangladeshi export to China reached $449 million, an increase of 67.5%. According to local
news reports, Chinese investment in Bangladesh in 2011 amounted to over $200 million. The
agreements on introduction of 3G technology and expansion of 2.5G network, and on Shajhalal
fertilizer factory project were signed. The construction work will start very soon. China also
exempted debts of Bangladesh worth more than 600 million RMB.
There also have been positive developments in bilateral cultural exchanges. In November 2011,
Beijing Night Art Performance and Charming Beijing Photo Exhibition were successfully held in
Dhaka. Fantastic performances of the Chinese artists and beautiful pictures of Beijing deepened
Bangladeshi people's understanding towards China. "Happy Chinese New Year" cultural events
have become a famous Chinese cultural brand in Bangladesh. Every year, Dhaka citizens flock to
the theater to enjoy the exciting moments of traditional Chinese New Year.
In addition, there has been big progress also in other areas such as agriculture, education,
military, etc. I will continue to push forward the all-dimensional cooperation in various fields
between our two countries.
Military cooperation is an important part of the all-dimensional cooperation between China and
Bangladesh. In the Joint Statement issued during Prime Minister Sheikh Hasina's visit to China
in March 2010, the two sides agreed to strengthen exchanges and cooperation between the
militaries and law enforcement departments to safeguard respective national security and
stability and promote peace and stability in the region. Military cooperation between China and
Bangladesh strictly adheres to relevant international law and norms on international relations,
and is not against any third party. In 2011, there was successful cooperation between the two
countries in this regard. Air Chief Marshal Ma Xiaotian, Deputy Chief of the General Staff of
People's Liberation Army and Vice Admiral Ding Yiping, Deputy Commander of Navy of
People's Liberation Army visited Bangladesh with big success. General Mubin, Chief of Army
Staff of Bangladesh paid a visit to China, which was fruitful. I believe this tendency of friendly
cooperation will be maintained and further developed.
The friendship between China and Bangladesh is a genuine and time-tested one. No matter
which party is in power, this bilateral relationship maintains the tendency of moving forward.
Since the establishment of diplomatic relations in 1975, successive governments of Bangladesh
have been making important contributions to the development of the bilateral relationship.
China-Bangladesh relations have become the model of friendship between countries with
different social systems and different cultures.
During the tenure of current government under the leadership of H.E. Sheikh Hasina, China-
Bangladesh relations have witnessed considerable development, and the all-dimensional
cooperation between the two countries has been continuously strengthened. Presently, China-
Bangladesh relations are standing at a new starting point, facing unprecedented historic
opportunities. The Chinese side stands ready to closely work with the Bangladesh side to further
enrich the closer Comprehensive Partnership of Cooperation, strengthen the existing bilateral
cooperation in different fields, and enhance the friendship between the two peoples.
China adheres to the foreign policy of "building friendship and partnership with the neighboring
countries," and would like to establish and maintain good-neighbourly relations with all its
neighbouring countries. China attaches importance to the important role of Bangladesh in
maintaining peace, stability and development of South Asia. China is willing to join hands with
Bangladesh and further promote the closer Comprehensive Cooperative Partnership between the
two countries.
The deep seaport in Sonadia Island is of strategic importance to Bangladesh and will be helpful
in enabling Bangladesh to become the regional transportation and logistics centre. Chinese
enterprises have advanced technologies, equipment and ample funds. Over the years, China
Harbor Engineering Company Ltd has accumulated rich experience in this regard. Presently, this
company has established an office in Dhaka and stands ready to participate in this project in a
commercial manner. Chinese enterprises are also ready to cooperate with enterprises from other
countries to jointly take part in this project. So long as the Bangladeshi side shows enough will
and determination, this project can make positive progress very soon.
As a country most vulnerable to climate change, Bangladesh has been experiencing sufferings
caused by climate change. China fully understands and respects the concerns of Bangladesh over
it. During international negotiations on climate change, China has always been supporting the
legitimate and reasonable requests of Bangladesh and the Least Developed Countries as a whole.
As developing countries, China and Bangladesh should stick to the principle of "common but
differentiated responsibilities" and work together to safeguard the common interests of
developing countries.
China and Bangladesh are both victims of climate change. On this issue, the two countries face
the same challenges and our basic interests are the same. Over the years, China has already
carried out cooperation with Bangladesh in the area of adaptation. For example, China helped
Bangladesh in projects of river dredging. The Chinese Government provided relevant training for
Bangladeshi officials and technicians. China will continue to strengthen the cooperation with
Bangladesh in this regard on the basis of "equal consultation, mutual benefit and common
development". China will continue to support the capacity building to help Bangladesh better
resist the adverse effects of climate change. Relevant government institutions of the two
countries can have detailed discussions.Consultations are going on between our two countries
concerning the 8th Friendship Bridge. I believe there will be a positive result soon. As for the
China-Bangladesh Friendship Exhibition Centre, we noticed some news reports saying that the
Bangladeshi government has decided to build this Centre at Purbachal. We would be very happy
to get the confirmation from and work with the Bangladeshi side so that concrete progress can be
made concerning this project. China is willing to provide assistance to Bangladesh in launching a
satellite. This has been reflected in the Joint Statement issued by the two countries during the
visit of Her Honorable Prime Minister Sheikh Hasina to China in March 2010. The two sides can
have further consultations in this regard.
Bangladesh is a country with a large number of rivers. River dredging is essential to the
livelihood of Bangladesh people and the development of this country. Against the backdrop of
global climate change, river dredging becomes even more important. China understands the need
of Bangladesh and always tries to extend its help. Each year, the Chinese government provides
relevant training courses for Bangladeshi government official and technicians. Besides, the
Chinese government strongly supports qualified Chinese enterprises to take part in dredging
projects. In September 2011, China Harbor Engineering Company Ltd was selected to implement
a project for Jamuna River dredging (14 kilometers). China will continue to provide its support at
the request of Bangladeshi government.
Bangladesh – China Trading Statistics
Year Export Import Trade Ratio
1997-98 2200.81 26933.3
-48.51 -592.46 01:12.2
1998-99 509.09 26936.4
-10.61 -560.47 01:52.8
1999-00 529.24 28579
-10.56 -568.06 01:53.8
2000-01 629.71 38254.7
-11.67 -657.78 01:34.8
2001-02 1095.46 35494
-18.92 -657.78 01:41.8
2002-03 1129.15 45211
-19.2 -779.5 01:41.8
2003-04 2692.05 66762.83
-45.65 -1132.72 01:24.8
Year Export Import Trade Ratio
2004-05 3448.85 101092
-56.07 -1643.77 01:28.6
2005-06 4324.96 139458.9
-64.35 -2078.99 01:32.3
2006-07 6420.35 177587.9
-92.97 -2572.62 01:27.7
2007-08 7336.49 215178
-106.95 -3136.7 2.07847222
2008-09 6677.73 237461
-97.06 -3451.47 01:35.6
2009-10 12357.69 264217.9
-178.63 -3819.28 01:21.4
2010-11 22750.06 420796
319.66 -5912.55 01:18.5
2011-12 31793.45 508867
-401.94 -6433.21 1:16
2012-13 36612.95 505460
-458.12 6324 01:13.8
China & BD: The Opportunities, Economic and Trading Cooperation
The 1st China-South Asia Exposition will be held from June 6 to 10, 2013 in Kunming, the
capital of Yunnan province of China. Bangladesh will be the theme country of the Expo and the
rotating president of China-South Asia Business Forum.
The China-South Asia Exposition is the first national level exposition aiming to promote
cooperation with South Asian countries. By honoring Bangladesh as the theme country of the
Expo, the Chinese side demonstrates its will to strengthen its economic and trade cooperation
with Bangladesh. The Expo will serve as a platform to showcase Bangladeshi cultural diversity
and development achievements, boost Bangladesh's export to China and attract more Chinese
investment, facilitate the mutual understanding and friendly exchanges between China and
Bangladesh, and provide a golden opportunity for the two countries to deepen bilateral economic
and trade cooperation.
The economic and trade cooperation between China and Bangladesh have maintained good
momentum in recent years, and the proportion of our bilateral trade volume is increasing in the
total trade volume between China and South Asian countries. Bangladesh now has become
China's third biggest trade partner in South Asia, while China is the largest origin of
Bangladesh's imports. According to China's statistics, the trade volume reached 8.45 billion USD
in 2012, 7 times more than that of 2002. The growth rate of bilateral trade has achieved 36.6% in
the first quarter of this year, with that of Bangladesh's export to China standing at 37.5%, which
is quite encouraging. More and more Chinese businessmen are willing to invest in Bangladesh
and the growth rate of direct investment is accelerating. At the same time, there are still some
challenges to overcome, i.e. reducing trade imbalance, enriching cooperation modalities,
diversifying trade categories, and expanding trade platforms.
China is the largest neighboring country of South Asia and has become the second largest
economy in the world. At present, China is making every effort to adjust its economic structure,
change the modality of development, and implements the strategy of developing the western
regions and expands its opening-up. With rich human resources, high level economic openness
and preferential fiscal & monetary policies, Bangladesh has achieved strong economic growth in
recent years. China and Bangladesh are highly complementary in economy, and there is great
potential for the two regional countries to deepen economic and trade cooperation.
The report of 18th National Congress of the Communist Party of China (CPC) noted that "China
will continue to promote friendship and partnership with our neighbors, consolidate friendly
relations and deepen mutually beneficial cooperation with them, and ensure that China's
development will bring more benefits to our neighbors". Inviting Bangladesh to participate the
first China-South Asia Expo, China hopes to make full use of the respective advantages of the
two countries, expand and deepen economic and trade cooperation, realize industrial docking and
share development dividends, so as to achieve development and prosperity together. China
always attaches importance to addressing problems in bilateral economic and trade cooperation
and has taken positive steps. Since 2010, China has gradually given Bangladesh-made goods
duty-free status. Currently, more than 4,700 items of Bangladesh-made goods enjoy duty-free
facility when exported to China, and China is expected to further expand the facility in 2013 and
gradually achieve the goal to cover 97% of the Bangladesh-made goods. We believe this
initiative will provide strong support for Bangladesh friends to export Bangladesh-made goods to
China.
Currently, Yunnan Province is now experiencing dynamic economic growth in China, enjoying
over 10% of GDP growth over the years. In the year 2012, the GDP of Yunnan Province is more
than 1 trillion Yuan (160 billion USD). Thanks to geological proximity, Yunnan and Bangladesh
have maintained close economic, trade and cultural exchanges since ancient times. The two
places were tightly linked by the Ancient Silk Road, while Yunnan has been the bridgehead and
leader in the bilateral economic and trade cooperation. By further developing this cooperation,
Bangladesh will be connected to the southwestern part of China and the whole mainland at large.
The China-South Asia Expo is providing a valuable opportunity for Bangladesh to strengthen its
trade and economic cooperation with Yunnan Province and surf the wave of China's economic
boom.
During Premier H.E. Mr. Li Keqiang's visit to India recently, both countries proposed to
establish a China-India-Myanmar-Bangladesh economic corridor in their Joint Statement. If the
proposal is materialized, this economic circle with a population of 2.8 billion will create an
unprecedented opportunity for the countries involved. Just as H.E. Mr. Li Keqiang said, only
entrepreneurs with vision and perspective can seize this opportunity. Now, the China-South Asia
Expo is serving this best opportunity to you.
I believe the Bangladeshi friends can firmly grasp the development trend of the world economy,
and fully utilize China-South Asia Expo as an economic and trade cooperation platform.
Through jointly pursuing innovation, cooperation and development, I am sure that you will make
new and greater contribution to promotion of China-Bangladesh economic and trade cooperation,
and stabilization and prosperity of South Asia. (Guangzhou,Q.)
Beijing‟s recent efforts at improving strategic ties with Delhi may soon experience a hiccup. In
an attempt to strengthen Dhaka‟s military might, China has agreed to sell submarines to
Bangladesh‟s Navy sometime. Last month, the two countries sealed a $203 million deal that
offers Bangladesh two Ming Class submarines. The move was scorned by India which could not
help hide its dismay at the rising tide of Sino-Bangladeshi defense cooperation. Indeed a senior
official recently took Beijing to task questioning the “necessity” of pact with Bangladesh.
Delhi‟s main concern is that these submarines may intrude into Indian waters. These events seem
to raise alarm in India as the Indian Navy now plans to boost its presence in the Bay of Bengal.
In response to the imminent deal, the Indian Navy has taken a number of counterbalancing steps.
First, India is going to install missile batteries on the island of Sagar, adjacent to the Bangladesh
coastline. Moreover, a deep-sea port is slated for construction there so that the massive naval
vessels can dock. Furthermore, the Navy plans to build bases on the Sagar Island for land-to-ship
as well as surface-to-air missiles. The Indian Ministry of Defense has also been funneling a
staggering amount of money to reinvigorate its overall postures in the Bay of Bengal.
Indian wariness is understandable since enhanced Chinese presence nearby continues to cause
strategic anxiety in Delhi. Indeed, the Indian response is largely tailored at the more strategic
concern on China rather than the diminutive effect with Bangladesh. As Paul J. Smith, Professor
of National Security Affairs at the U.S. Naval War College, explained: “I don‟t think the issue is
the possession of submarines per se; it is China‟s increasing influence in Bangladesh (including
possibilities that China may be able to transform Chittagong into „Gwadar East‟)”. This is what
military planners in India are really worried about.” Gwadar is a strategic Pakistani port-
affording access to the Arabian Sea and the Persian Gulf. The port, which is especially strategic
for its importance in the global shipping trade, has come under fire in India as a result of
Pakistan‟s welcoming of significant Chinese investment and operational control.
With regard to Bangladesh‟s naval revamp, India must gauge Dhaka‟s real intentions. For
example, there has been no indication from Bangladesh that it will permit China with unfettered
access to the Bay. And clearly Bangladesh understands that it cannot achieve the capabilities to
overpower or match India in a sea battle. Rather Bangladesh‟s focus could be to deter Myanmar
since it was engaged in a feud with Naypyidaw a maritime territorial dispute. In 2008, tensions
grew exponentially when Bangladesh dispatched a British-made warship to ward off Myanmar‟s
petroleum exploration vessel which was accompanied by a naval flotilla. Bangladesh deferred
the issue to the United Nations International Tribunal for the Law of the Sea (ITLOS) for a
resolution. Long before the final ITLOS verdict came in the favor of Dhaka in 2012, the
Bangladesh Navy has already started to implement its long-term strategic plans. For instance, the
Bangladesh Navy began test firing automated missiles for the first time. Also, it commissioned a
number of small ships, notably the decommissioned USCG Cutter Jarvis- a Hamilton class ship
which happens to be the largest vessel in Bangladesh Navy. Interestingly it has been
named Somudra Joy, meaning ocean victory, indicating Bangladesh‟s triumph over Myanmar‟s
claim on the disputed waters. Apparently, Bangladesh feels more threatened by Myanmar on its
Eastern flank rather than drummed up concern regarding India.
As Smith indicates though, while Dhaka‟s intentions are more benign in nature, the implications
of the deal are still significant in broader geostrategic terms: “I do not believe these submarines
will pose a threat to India. But this misses the larger game that is being played. The Indian Ocean
is the strategic arena of the 21st Century. China views the Indian Ocean as key to its geopolitical
rise, particularly as the region‟s sea lines connect the Chinese economy to critical sources of
energy in the Middle-East and Africa.” And this greater strategic game is more problematic in
the long-term. Smith puts forth that “the only arms race that matters in South Asia is the one
between China and India. Pakistan, and to an increasing extent, Bangladesh serve as Beijing‟s
proxies in the region. This makes India very nervous when these two neighbors acquire new
military capabilities.”
Geography denies China access to the Bay of Bengal. But this has not stopped Beijing from
trying to extend its naval power projection beyond its national ports. Bangladesh is simply
another element of China‟s strategy to dramatically enhance its global naval posture. As
Professor Smith aptly concludes, “This is the real strategic significance of selling submarines to
Bangladesh. Imagine you are an Indian military planner. You have China on your western border
(through its Pakistan proxy) and increasingly you have China on the Eastern border (increasingly
close relations with Bangladesh). China also is making diplomatic and military inroads in Sri
Lanka, Seychelles, and Mauritius among others. This is the new „great game‟ in the Indian
Ocean region; just as the United States „pivoted‟ to the Asia-Pacific; China has „pivoted‟ to the
Indian Ocean. Again, the Bangladesh submarine story is part of this larger strategic game. ”
(Kabir,A. 01.03.2014 @ 09:19)
Findings
Sino – Bangla relationships has recently declined. The trade gap has always been too high, new
markets can be created and introduced. Bangladesh has high- potential to enter in Chinese
market, more than its neighboring nation. We have been importing heavily but we need to focus
on increasing exports between each other.
Recommendations
Trade variances between Beijing and Dhaka need to be focused closely. Learning from trading
partners is always beneficial. China is a very strong nation, current global leader, needs to be
well – catered. We should focus at improving the ties, building goals, increase prospects, select
them as a role – model. China‟s growth have been amazing for the last few decades, from
nothing, they became the strongest nation globally. The global leaders follow their strategies to
overcome their issues and certainly Bangladesh can do the same.
Conclusion
Bangladesh – China trade relationship is often mentioned as Sino – Bangla trade system, due to
their well-maintained relationship since 1976. We hold strong ties even before our independence,
dating back to Silk Road, whilst Muslin was traded. The governments of both countries have
been looking forward to tighten their relationship; as a result the countries have joined to join
some of the famous infrastructures of Bangladesh. The result was shown regarding the
construction & introduction of various roads, highways, bridges, and many more. Padma bridge,
one of the most iconic bridges, Dhaka – Chittagong highway, are co-jointly formed by Sino –
Bangla construction teams. Although we maintain such high-end relationship, but it is necessary
to learn more from our trading partner, to strengthen our position in the sub-continent, which has
been completely wiped out. If Sino – Bangla relation can be strengthened to next level, and if we
can enter into Chinese market, our customer – base will certainly increase, hence betterment for
the economy as a whole.
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